Cash Tossed from Mohali Flat During ED Money Laundering Raid
Bags of cash tossed from 9th floor flat during ED raid in Mohali
Hindustan Times
Image: Hindustan Times
During a money laundering investigation in Mohali, Punjab, occupants of a luxury high-rise allegedly threw bags of cash from a ninth-floor flat to evade Enforcement Directorate (ED) officials. This raid targeted builders accused of fraudulently obtaining land use licenses and defaulting on government fees.
- 01Bags containing approximately ₹20 lakh (roughly $24,000 USD) were thrown from a ninth-floor flat during an ED raid.
- 02The investigation focuses on fraudulent practices in Punjab's real estate sector, particularly involving the Greater Mohali Area Development Authority (GMADA).
- 03Nitin Gohal, linked to the thrown cash, is under investigation for mediating between builders and political figures.
- 04The ED is probing multiple builders and projects for obtaining licenses through misrepresentation.
- 05The investigation aims to trace the proceeds of crime and potential political connections to the defaulting firms.
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A dramatic money laundering investigation unfolded on Thursday in Mohali, Punjab, when occupants of a luxury flat at Western Towers allegedly threw bags of cash from the ninth floor to evade Enforcement Directorate (ED) officials. The ED conducted simultaneous searches at 12 locations across Chandigarh, Mohali, and Patiala, focusing on prominent builders accused of fraudulently obtaining change of land use (CLU) licenses and defaulting on government fees amounting to hundreds of crores. Witnesses reported seeing two bags containing around ₹20 lakh (approximately $24,000 USD) in cash being tossed from Flat 906, linked to Nitin Gohal, an IT businessman under scrutiny for allegedly mediating between defaulting builders and influential political figures. The ED's investigation centers on a scam involving the Greater Mohali Area Development Authority (GMADA), where developers are accused of misrepresenting information to secure licenses and subsequently defaulting on development charges. The agency is tracing the proceeds of crime to determine if funds were funneled through middlemen for political protection.
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This investigation could lead to significant repercussions in Punjab's real estate sector, potentially affecting homebuyers and investors who may have been defrauded by these builders.
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